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Unison Acquisition Trust Announces Private Placement of Trust Units

Starlight Capital
·3 min read

TORONTO, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Starlight Investments Capital LP (“Starlight Capital” or the “Manager”) is pleased to announce that Unison Acquisition Trust (the “Trust”) intends to complete a private placement offering of up to 5,000,000 Series A units (“Series A Units”), Series C units (“Series C Units”) and Series F units (“Series F Units”, and together with Series A Units and Series C Units, “Units”) at an initial offering price of $10.00 per Unit.

The Trust’s investment objective is to provide Unitholders with stable cash distributions and long-term capital appreciation through exposure to single family homes in the United States and REITs and equity securities of issuers participating in the residential real estate sector in North America. The Trust will primarily provide exposure to Unison Midgard Fund LP (“Unison Midgard”), and to a lesser extent, up to 20% of the Trust’s total assets will be invested in the “Public Portfolio”. The Public Portfolio will invest in an actively managed North American portfolio of real estate securities managed by Dennis Mitchell, CEO & CIO of Starlight Investments Capital LP.

The Trust has engaged Raymond James Ltd. and National Bank Financial Inc. (the “Lead Agents”) as co-lead agents and joint bookrunners to offer for sale on a private placement basis up to a maximum of $50,000,000 of Series A Units and/or Series F Units at a price of $10.00 per Unit (the “Syndicated Offering”). Purchasers are required to purchase a minimum of 100 Series A Units, a minimum of 100,000 Series C Units or a minimum of 100 Series F Units, in the discretion of the Manager. No Series C Units will be sold through the Syndicated Offering.

There will be no closing unless a minimum of $20,000,000 of Units (the “Minimum Offering”) are sold pursuant to this offering. Assuming the Minimum Offering is achieved, it is expected that the initial closing date will be on or about October 28, 2021, with a subsequent closing on or about November 25, 2021, or such other dates as the Manager and the Lead Agents may determine.

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This offering is made only by means of an offering memorandum of the Trust, which can be obtained from the Lead Agents at no cost by emailing ECM-Syndication@raymondjames.ca or Heather.McLennan@nbc.ca.

About Unison Midgard Fund LP

Unison Midgard is an open-ended limited partnership that invests, indirectly through Unison REIT, in single-family residential real estate in the United States by purchasing specially designed residential real estate options that grant the right to a percentage of a homeowner’s property for a fixed price (“Unison Options”).

The investment objective of Unison Midgard is to create value to its investors primarily through actively managed strategic investments in Unison Options and other investment assets. Unison Midgard implements its investment objective through its investment in Unison REIT, which in turn implements its investment strategy through its investment in Unison Midgard Holdings LLC, a Delaware limited liability company.

About Starlight Capital and Starlight Investments

Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds, offering memorandum funds and structured products. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach known as Focused Business Investing. Starlight Capital is a wholly owned subsidiary of Starlight Investments. Starlight Investments is a privately held, full service real estate investment and asset management company. The firm manages over C$20.0 billion of assets on behalf of institutional joint ventures as well as publicly listed REITs, closed-end funds and investment funds and is driven by an experienced team of over 300 professionals. Please visit us at www.starlightcapital.com and connect with us on LinkedIn.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur or be achieved. Forward- looking information includes, without limitation, statements with respect to the completion of the proposed Offering. There can be no assurance that the Trust will achieve its investment objective and investment results may vary substantially over time.

Dennis Mitchell
Chief Executive Officer & Chief Investment Officer
416-855-2642
dmitchell@starlightcapital.com

Lou Russo
Senior Vice President, National Sales and Distribution
647-245-2076
lrusso@starlightcapital.com